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Aluminum Tops USD3K per Ton for 1st Time in 3+ Yrs
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Driven by tight supply outlook and long-term demand expectations, international aluminum prices exceeded USD3,000 per ton last Friday (2nd) for the first time since 2022, according to a Bloomberg report. Last Friday, aluminum prices rose by 0.7% to USD3,015.5 per ton, marking a three-day rising streak. The report said China's smelting capacity limitations and high electricity prices in Europe have affected production, leading to a reduction in global inventory, while the demand outlook for construction and renewable energy remains strong. Aluminum prices increased by 17% last year, the largest annual increase since 2021. AAStocks Financial News |
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